Page-9 of Ease of Doing Business Current Affairs, GK & News

Government Promulgates Ordinance to amend Companies Act, 2013

Union Cabinet has approved proposal for promulgation ordinance to amend the Companies Act, 2013. The ordinance had received assent from President Ram Nath Kovind under Article 123 and has been promulgated. The amendments to the Act are aimed to promote ease of doing business as well as ensure better compliance levels. Key Facts The ordinance ..

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India ranked 77th World Bank’s Ease of Doing Business Index

India ranked 77th among 190 countries by leapfrogging 23 ranks in World Bank’s Ease of Doing Business (EODB) 2018 rankings. In the 2017 rankings, India ranked 100th and had jumped 30 places. In 2016, 2015 and 2014, India had not improved much and was placed at 130, 131 and 134, respectively, in ranking. EODB 2018 ..

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Government launches e-Sahaj portal to facilitate security clearances of businesses

Union Ministry of Home Affairs (MHA) has launched e-Sahaj portal to facilitate individuals and private companies in seeking security clearance for setting up businesses in certain sensitive sectors. The portal aims to bring greater transparency in according security clearances to business proposals relating to sensitive sectors and geographical locations. Background MHA is nodal authority for ..

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Lok Sabha passes bill for speedy disposal of commercial disputes

Lok Sabha has passed Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018. It replaces the ordinance promulgated by President in May 2018 and amends Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015. The Act enables creation of commercial divisions in High Courts and commercial ..

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Cabinet approves ordinance to amend law for speedy disposal of commercial disputes

The Union Cabinet chaired by Prime Minister Narendra Modi has approved promulgation of Ordinance amend a law for speedy disposal of commercial disputes. This decision aims to improve India’s ranking in World Bank’s ease of doing business index. The index takes into consideration dispute resolution environment in country, which facilitates investors in deciding for setting ..

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Cabinet delegates power to Finance and Oil Ministers to award oil and gas blocks

The Cabinet Committee on Economic Affairs (CCEA) has delegated powers to Finance and Petroleum Ministers to award oil and gas exploration blocks to successful bidders under Hydrocarbon Exploration Licensing Policy (HELP). Under HELP, exploration blocks are to be awarded twice in a year and currently awarding of blocks requires the CCEA’s approval. Delegation of these ..

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